United Kingdom: Wood Fuel Market 2024

Wood Fuel Market Size in the UK

In 2022, the UK wood fuel market was finally on the rise to reach $X after two years of decline. Overall, consumption posted a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Wood Fuel Production in the UK

In value terms, wood fuel production reached $X in 2022 estimated in export price. In general, production showed a resilient expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 46%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Wood Fuel Exports

Exports from the UK

In 2022, wood fuel exports from the UK dropped to X cubic meters, which is down by -8.6% compared with the previous year. Over the period under review, exports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 51%. Over the period under review, the exports attained the maximum at X cubic meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wood fuel exports reduced to $X in 2022. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 30% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X cubic meters) was the main destination for wood fuel exports from the UK, accounting for a 44% share of total exports. Moreover, wood fuel exports to Germany exceeded the volume sent to the second major destination, Ireland (X cubic meters), twofold. Nicaragua (X cubic meters) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-36.8% per year) and Nicaragua (0.0% per year).

In value terms, the largest markets for wood fuel exported from the UK were Ireland ($X), Nicaragua ($X) and Germany ($X), together comprising 53% of total exports. The Netherlands, Latvia, Vietnam and Sweden lagged somewhat behind, together accounting for a further 24%.

Among the main countries of destination, Latvia, with a CAGR of +3,706.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wood fuel export price amounted to $X per cubic meter, increasing by 1.7% against the previous year. In general, the export price recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 an increase of 80% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per cubic meter), while the average price for exports to Germany ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+78.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Fuel Imports

Imports into the UK

In 2022, supplies from abroad of wood fuel was finally on the rise to reach X cubic meters for the first time since 2019, thus ending a two-year declining trend. In general, imports posted significant growth. The growth pace was the most rapid in 2014 with an increase of 212% against the previous year. Over the period under review, imports attained the maximum at X cubic meters in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, wood fuel imports skyrocketed to $X in 2022. Over the period under review, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Latvia (X cubic meters) constituted the largest wood fuel supplier to the UK, with a 61% share of total imports. Moreover, wood fuel imports from Latvia exceeded the figures recorded by the second-largest supplier, Lithuania (X cubic meters), threefold. Poland (X cubic meters) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Latvia stood at +49.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+135.7% per year) and Poland (+35.5% per year).

In value terms, Latvia ($X) constituted the largest supplier of wood fuel to the UK, comprising 60% of total imports. The second position in the ranking was held by Lithuania ($X), with a 25% share of total imports. It was followed by Poland, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from Latvia totaled +55.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+157.7% per year) and Poland (+33.9% per year).

Import Prices by Country

The average wood fuel import price stood at $X per cubic meter in 2022, picking up by 57% against the previous year. Overall, the import price posted modest growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per cubic meter), while the price for Portugal ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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